Dan Kadlec

Dan Kadlec is a journalist and author who has written extensively about baby boomers, personal finance, the economy and financial education for TIME, Money, CBS and USA Today among others. He has appeared on Oprah, CNBC, CNN, and all the major networks. His most recent book is A New Purpose: Going From Success to Significance in Work and Life. Follow him on Twitter @dankadlec. He has a B.A. from Marquette University and lives with his wife in the New York City area. They have three adult children. Read more about Dan at dankadlec.com

The venerable 401(k) plan has taken a lot of hits in recent years. Yet some flaws have been corrected while others are being addressed. You may not appreciate the way this retirement stalwart has evolved over three decades—or …